sec.47Unpaid tax interest on royalty— Taxation Administration Act 2001 , s 54

sec.47 Unpaid tax interest on royalty— Taxation Administration Act 2001 , s 54

For the Taxation Administration Act 2001 , section 54 (9) , this section provides for working out the period for which unpaid tax interest accrues if— royalty is payable by a person to the State under section 16 (1) for a quarterly return period; and the person has not paid in full the amount payable for instalment 1, instalment 2 or instalment 3 as required under section 16 . If instalment 1 or instalment 2 is not paid in full by the day required under section 16 , unpaid tax interest accrues on the amount unpaid, from time to time, for the period— starting on, and including, the day after the day the instalment is required to be paid; and ending on, and including, the earlier of the following days— the day the instalment is paid in full; the lodgement day. If the royalty payable for the quarterly return period is not paid in full on the lodgement day, unpaid tax interest accrues on the total amount unpaid, from time to time, for the period— starting on, and including, the day after the lodgement day; and ending on, and including, the day the total amount is paid in full. In this section— lodgement day means the day a royalty return must be lodged for the quarterly return period, disregarding any extension given under the Taxation Administration Act 2001 , section 151 . unpaid tax interest see the Taxation Administration Act 2001 , section 54 (1) . (sec.47-ssec.1) For the Taxation Administration Act 2001 , section 54 (9) , this section provides for working out the period for which unpaid tax interest accrues if— royalty is payable by a person to the State under section 16 (1) for a quarterly return period; and the person has not paid in full the amount payable for instalment 1, instalment 2 or instalment 3 as required under section 16 . (sec.47-ssec.2) If instalment 1 or instalment 2 is not paid in full by the day required under section 16 , unpaid tax interest accrues on the amount unpaid, from time to time, for the period— starting on, and including, the day after the day the instalment is required to be paid; and ending on, and including, the earlier of the following days— the day the instalment is paid in full; the lodgement day. (sec.47-ssec.3) If the royalty payable for the quarterly return period is not paid in full on the lodgement day, unpaid tax interest accrues on the total amount unpaid, from time to time, for the period— starting on, and including, the day after the lodgement day; and ending on, and including, the day the total amount is paid in full. (sec.47-ssec.4) In this section— lodgement day means the day a royalty return must be lodged for the quarterly return period, disregarding any extension given under the Taxation Administration Act 2001 , section 151 . unpaid tax interest see the Taxation Administration Act 2001 , section 54 (1) .

• (a) royalty is payable by a person to the State under section 16 (1) for a quarterly return period; and